The Financial Supervisory Authority of Norway has published a decision imposing a NOK 15,000 administrative fine on a former bank board member for breaching the trading ban under Article 19(11) of the Market Abuse Regulation (MAR). The individual bought 300 equity certificates for NOK 50,339 during the 30 calendar days before the bank published its results for the fourth quarter of 2025. The prohibition applies regardless of whether the person possesses inside information or intends to obtain a financial advantage. The breach was deemed grossly negligent because the individual was responsible for checking the bank's publicly available financial calendar and had signed its insider rules. Notification of inclusion on the bank's insider list provided an additional reason to exercise caution. The penalty reflected the transaction amount and degree of negligence. Cooperation was not treated as a mitigating factor because the evidence was largely established before the individual was informed of the breach.
Financial Supervisory Authority of Norway fines former bank board member NOK 15,000 for trading during closed period
The Financial Supervisory Authority of Norway fined a former bank board member NOK 15,000 for purchasing 300 equity certificates worth NOK 50,339 within 30 calendar days before quarterly results. The breach was deemed grossly negligent given the individual's familiarity with the rules and notification of inclusion on the bank's insider list. The trading ban applies regardless of possession of inside information or trading motive.